Updated: November 27, 2024
Advertising & Editorial Disclosure
In New York, NY, State Farm is both the overall best and cheapest choice for home insurance. If customer service is your priority, however, Chubb is the best.
Choosing the best inexpensive home insurance depends on what you value, such as costs or how a company helps when you have questions or problems.
Best HomeInsuranceNew York, NYTable of Contents
Why Trust MoneyGeek? We used data and rates from the Department of Financial Services and Quadrant Information Services to select the top homeowners insurance options in New York.
Home insurance premiums in New York represent the latest available quotes as of September 2024.
MoneyGeek found that State Farm is the best option in New York, NY, with a MoneyGeek score of 90 out of 100 for 100K dwelling coverage.
The scores for home insurance companies in New York range from 40 to 90. These figures are based on MoneyGeek's scoring system, and insurers may have different scores depending on your credit history and the age of your home.
| State Farm | 90 | $491 |
| Chubb | 72 | $1,164 |
| Nationwide | 70 | $864 |
| Farmers | 69 | $804 |
| Narragansett Bay Insurance Company | 65 | $804 |
| Travelers | 65 | $979 |
| Main Street America Insurance | 62 | $862 |
| Allstate | 40 | $1,448 |
MoneyGeek found that State Farm is the best option for $100K dwelling coverage in New York, NY. The two best home insurance companies in New York for $100K dwelling coverage are:
State Farm stands out as the best home insurance provider because it offers affordability and high customer satisfaction, which greatly contribute to its MoneyGeek score.
New York, NY, homeowners have a choice among various companies, each offering different costs and service experiences. While affordability is key, other factors — such as customer support and coverage options — are important, especially when filing a claim.
State Farm scores high on affordability and customer satisfaction, making it a top choice. It offers comprehensive home insurance coverage with options like scheduled personal property and building ordinance or law. You can save with discounts like bundle and protective device. Installing fire alarms can qualify you for savings.
State Farm provides useful coverages like building ordinance or law, which helps if you need to upgrade your home to meet new codes. Scheduled personal property covers valuable items like cameras. Back-up of sewer or drain protects against water damage from backed-up drains. These coverages add value to your policy.
MoneyGeek found that Chubb offers the best customer service in home insurance in New York, NY, for $100K dwelling coverage. Here are the top two providers for $100K dwelling coverage in New York:
Chubb stands out due to its excellent customer satisfaction score, which indicates that customers are happy with its service. The high coverage score also means that Chubb offers robust protection options for homeowners. Excellent service in home insurance means being responsive, helpful, and providing clear communication to policyholders.
Chubb is the best for service quality, thanks to its high customer satisfaction and coverage scores. It offers comprehensive home insurance with guaranteed replacement cost and building ordinance or law coverages. Chubb also provides discounts like protective device, which you can get by installing security systems.
Chubb's coverages, like guaranteed replacement costs, help rebuild your home even if costs exceed limits. Building ordinance or law covers bringing your home up to code after damage. Cash settlement lets you choose not to rebuild and get cash instead.
MoneyGeek found that State Farm is the best cheap home insurance option in New York, NY, for $100K dwelling coverage. The top two best cheap insurance providers for $100K dwelling coverage are:
State Farm stands out due to its high affordability score and customer satisfaction. While cheap home insurance can save money, it might not cover all needs in an accident. In instances where saving on premiums is a priority, considering the most affordable homeowner insurance companies may be beneficial.
What sets the best cheap home insurance apart from the cheapest is its value for money, balancing cost with the coverage that meets a homeowner's needs without being expensive.
State Farm scores high with affordability and satisfaction. It offers building ordinance or law coverage, which is useful for homeowners. Discounts like roof replacement cost and wind mitigation help save money. The roof replacement cost discount applies if your roof is a total loss.
State Farm provides useful coverages like building ordinance or law, which helps with rebuilding costs. Roof replacement cost discount is valuable if your roof is damaged. Wind mitigation discount can save money if your home meets certain standards.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 23, 2024
In New York, many factors affect homeowners insurance, with location being one. Comparing rates can help you save, but it can take time — 15 minutes per company and often more than an hour for three or more. MoneyGeek's home insurance calculator helps you save instantly by focusing on important factors like age, dwelling, credit score, deductible and liability coverage.
State Farm stands out in New York, NY, as the most cost-effective option for homeowners insurance. The following companies offer the lowest annual premiums in their respective dwelling coverage categories:
State Farm ranks as the cheapest in New York because of its low yearly premium. It is also the best based on MoneyGeek's score. Choosing the right amount of dwelling coverage is essential as it significantly affects the insurance premium.
Securing the cheapest homeowners insurance in New York can be a smart strategy to handle personal finances better.
| State Farm | $491 |
| Farmers | $804 |
| Narragansett Bay Insurance Company | $804 |
| Main Street America Insurance | $862 |
| Nationwide | $864 |
| Travelers | $979 |
| Chubb | $1,164 |
| Allstate | $1,448 |
For high-value homes in New York, NY, State Farm offers the lowest yearly cost for a $750K dwelling coverage policy. Higher home values require more insurance because it costs more to fix or rebuild them, which is why home insurance costs can be higher.
State Farm stands out for its competitive rates in New York, NY. According to MoneyGeek, while it's the cheapest option, State Farm also ranks as the best choice for high-value homes, showing a balance of affordability and service quality.
| State Farm | $3,306 |
| Main Street America Insurance | $3,691 |
| Narragansett Bay Insurance Company | $4,980 |
| Allstate | $5,199 |
| Nationwide | $5,207 |
| Travelers | $5,382 |
| Farmers | $6,817 |
| Chubb | $7,928 |
State Farm is the best option for new homes in New York, offering the lowest annual premium for $100K dwelling coverage.
State Farm stands out as the most affordable for homeowners in New York. You should carefully consider if a lower price might not mean the best overall option based on other factors. Ensure you are also adequately covered in your insurance selection.
| State Farm | $285 |
| Farmers | $478 |
| Nationwide | $557 |
| Narragansett Bay Insurance Company | $613 |
| Main Street America Insurance | $627 |
| Travelers | $694 |
| Chubb | $941 |
| Allstate | $1,008 |
Affordable homeowners insurance providers balance quality and cost by offering great customer service and comprehensive coverage with low premiums. The best cheap homeowners insurance in New York depends on your needs; consider factors beyond premiums, like location and coverage options.
To guide you through the process, we outlined key factors to consider when seeking the best and most affordable homeowners insurance for your home.
To determine how much home insurance coverage you need, consider the specifics of your home in New York, NY, including rebuilding costs, personal property value and liability needs.
Research insurance companies in New York, NY. Look for those with strong financial stability, positive customer feedback and a history of quality service.
Once you know what coverages you need, compare home insurance quotes. For a dwelling coverage of $100K in New York, NY, premiums can range from $491 to $804 annually.
Inquire with each provider about discounts you may qualify for, such as those for bundling policies, installing safety features or maintaining a claims-free record.
Choosing a higher home insurance deductible can lower your premium, but ensure it's an amount you can afford to pay in case of a claim.
Installing security systems and robust locks can lower the risk profile of your home and potentially reduce insurance costs.
Keep a good credit score as it can affect your insurance rates in New York, NY. Pay bills on time and reduce outstanding debt.
Consider bundling your homeowners insurance with other policies like auto insurance. This can lead to significant discounts and savings.
The best cheap home insurance provider for you in New York depends on your coverage needs and budget. Get answers to some of the most commonly asked questions about the best cheap insurance rates in New York, New York.
The average cost of home insurance in New York, NY, is $789.
The cheapest home insurance company in New York, NY, is State Farm with an annual premium of $491.
The best home insurance in New York for New York residents is provided by State Farm, with a MoneyGeek score of 90 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
